Wednesday, June 12, 2024
CEOWORLD magazine - Latest - Special Reports - Revealed: The best countries in the world for expat retirement, 2024

Money and WealthSpecial Reports

Revealed: The best countries in the world for expat retirement, 2024


CEOWORLD magazine has recently released a guide that can help you determine which countries offer the most stability if you are considering retiring abroad. The report evaluates each country based on various categories measuring local friendliness, health, and well-being, quality of life, ease of settling in, recreation, culture, nightlife, and diverse culinary options.

This report examines the top countries in the world for expat retirement. While some expats in countries like Germany and Finland prioritize quality of life, others prefer the cheapest and safest countries for retirement, such as Portugal, Spain, and the United Arab Emirates.

In 1881, Otto von Bismarck suggested a progressive notion for retirement. He proposed that people who had reached the age of 70 should be granted a state pension, incentivizing them to retire. This idea was widely accepted, and most countries have now adopted a retirement age, after which workers can receive benefits based on their work years. What Are the Best Countries for Expat Retirement?

According to the Global Expat Retirement Index 2024 Survey, Taiwan is considered the best expat retirement destination in the world, ranking highest in health and well-being, quality of life, and ease of settling in. Expats have reported widely available and affordable healthcare and a sense of safety and satisfaction living in the country.

Spain takes second place in the survey, with expats loving it for its opportunities for recreation, culture, nightlife, and diverse culinary options. The weather is also a major plus, with 94% of expats happy with the climate. Additionally, the cost of living is affordable, and expats report being able to live a comfortable lifestyle at $1,800 a month.

Portugal has been consistently performing well in the Quality of Life Index, notes the Global Expat Retirement Index 2024 Survey. The survey notes that 25% of individuals move to the country for a better quality of life, while 18% do so because they wish to retire abroad. The country is an attractive option for expat retirees owing to its affordable living costs, quality healthcare, and safe environment. The country is also one of the cheapest and safest to retire in Europe, and an individual expat can retire for $1,500 per month.

Mexico has been ranked as the world’s fourth-best country for expat retirement. 90% of expats believe that the locals are friendly, and 72% find it very easy to socialize and make friends. Most expats have a support network and many local friends. Living costs are extremely affordable, and 70% of individuals are happy with their financial situation. An individual expatriate can live on as little as $800 per month. Even in more populous urban centers, a comfortable existence can be sustained with a monthly budget of $1,200.

Greece makes it to our list because of good rankings in local friendliness, quality of life, ease of settling in, and a reasonable cost of living. The cost of living in Greece is 35% cheaper than in the United States. Expats can enjoy modern amenities and a high-quality lifestyle for an average of $2,000 per month.

The best countries in the world for expat retirement, 2024

RankCountryRegionScorePopulationGDP (USD million)GDP Per Capita
1TaiwanEastern Asia95.6723,399,654751,93032,339
2SpainSouthern Europe95.3148,345,2231,582,05433,090
3PortugalSouthern Europe95.2910,467,366276,43226,879
4MexicoNorth America95.2129,406,7361,811,46813,804
5GreeceSoutheastern Europe (Balkans)95.0710,413,982242,38523,173
6United Arab EmiratesWest Asia94.659,282,410509,17950,602
7FranceWestern Europe94.6268,373,0003,049,01646,315
8ThailandSoutheastern Asia94.3568,263,022512,1937,298
9IndonesiaSoutheastern Asia94.61279,118,8661,417,3875,109
10VietnamSoutheastern Asia94.14100,300,000433,3564,316
11PanamaCentral America93.124,337,40682,34818,493
12ChileSouth America92.7919,960,889344,40017,254
13MauritiusEastern Africa92.691,261,04114,81911,752
14New ZealandAustralasia92.655,223,100249,41548,072
15NetherlandsWestern Europe92.5317,590,0001,092,74861,770
16IcelandNorthern Europe91.38396,96030,57078,837
18AustriaCentral Europe90.619,154,514526,18258,013
19IsraelWest Asia90.089,827,000521,68853,196
21FinlandNorthern Europe89.055,572,545305,68954,507
22MalaysiaSoutheastern Asia89.0133,379,500430,89513,034
23PhilippinesSoutheastern Asia88.4112,892,781435,6753,859
24EstoniaNorthern Europe87.771,365,88441,79930,998
25SingaporeSoutheastern Asia87.745,917,600497,34787,884
26NorwayNorthern Europe87.435,533,582546,76899,266
27SwedenNorthern Europe87.2810,558,012597,11055,216
28United KingdomWestern Europe86.9567,026,2923,332,05948,912
29CanadaNorth America86.6840,528,3962,117,80553,247
30IrelandWestern Europe86.015,281,600589,569112,248
31ItalySouthern Europe85.7258,919,3452,186,08237,146
32UruguaySouth America85.293,444,26376,24421,378
33BelgiumWestern Europe84.9711,801,722627,51153,657
34GermanyCentral Europe84.5384,607,0164,429,83852,824
35KazakhstanCentral Asia84.5220,000,000259,29212,968
36Hong Kong (China)Eastern Asia84.027,498,100385,54651,168
37United StatesNorth America83.95335,893,23826,949,64380,412
38CroatiaSoutheastern Europe (Balkans)83.893,855,64180,18520,877
39PolandCentral Europe83.8637,667,000842,17222,393
40JapanWest Asia83.85124,240,0004,230,86233,950
41BrazilSouth America83.48203,062,5122,126,80910,413
42PeruSouth America83.4733,396,698264,6367,669
43RomaniaSoutheastern Europe (Balkans)83.4219,051,562350,41418,413
44BulgariaSoutheastern Europe (Balkans)83.226,447,710103,09916,087
45BotswanaSouthern Africa83.112,410,33820,7567,758
46HungaryCentral Europe82.869,597,085203,82921,075
47SwitzerlandWestern Europe82.788,931,306905,684102,865
48South AfricaSouthern Africa82.462,027,503380,9066,191
49South KoreaEastern Asia82.3251,439,0381,709,23233,147
50TurkeyWest Asia82.2685,279,5531,154,60013,384

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CEOWORLD magazine - Latest - Special Reports - Revealed: The best countries in the world for expat retirement, 2024

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Lila Jones
Senior News Editor at CEOWORLD Magazine. I'm a veteran correspondent for the CEOWORLD Magazine. During my career, I've been based in New York, Washington, DC, Brussels and London. Over the years I've written about everything from the debt crisis to Brexit and the rise of populism in Europe. I did a stint in London as the CEOWORLD Magazine's Europe News Editor and Deputy World News Editor. In my current post I try to capture life in a changing banking to finance landscape.